LONDON May 10 U.S. Treasury Secretary Jack Lew
said on Friday that Japan had "growth issues" but its attempts
to stimulate its economy need to stay within the bounds of
international foreign exchange agreements.
"Japan has growth issues for a long period of time that we
have encouraged Japan to address. So as long as they stay within
those bounds of those international agreements I think growth is
an important priority," Lew told the CNBC news channel in
"I'm just going to refer back to the ground rules and the
fact that we've made clear that we'll keep an eye on that," he
The yen hit a four-year low against the dollar earlier on
Friday beyond the psychologically important 100 yen mark.
Lew was speaking ahead of a meeting global finance chiefs, where
the yen's slide is expected to be a topic of discussion.
Lew also said some European countries had more fiscal space
to create demand, and warned that global economic recovery could
not be led by the United States alone.
"For a global recovery ... It cannot be led by the United
States alone ... There are countries in Europe that have more
fiscal space in Europe to create a bit more economic demand and
more economic growth," he said.